Press release
The Global Fiber Optic Cable Market Size Will Grow At A CAGR Of 23.2% To 2023
Fiber Optic Cable Market
The global fiber optic cable market was worth $37.95 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 23.2% and reach $87.58 billion by 2023.
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The fiber optic cable market consists of sales of fiber optic cables and related services that are used in telecom, CATV, broadcasting, military/aerospace, healthcare, power, and new energy. A fiber optic cable is an optical cable containing one or more optical fibers that are capable of transmitting the messages into light waves.
Rising demand for higher bandwidth and faster speed connections will enhance the growth of the fiber optic cable market. There is a surge in demand for high bandwidth from enterprises and individuals due to increased use of the internet for video calls, gaming, online shopping, and social media. Fiber optic cable use light to transmit data instead of electricity so that it can enhance and speed up the internet connections that are capable of handling higher bandwidth. For example, 4K Ultra High Definition (UHD) TV at homes consumes approximately 15-18 Mbps of data which is three times more than the plain HD TV. By 2022, it is estimated that about 62% of connected flat panel TV sets will be 4K. This focus on increasing demand for higher bandwidth increasing video consumption. Thus, rising demand for faster speed connections and higher bandwidth is driving the fiber optic cable market’s growth.
Fiber Optic Cable Market Segmentation: -
By Product Type
Single-mode Cable
Multi-mode Cable
By Application
Telecom
Oil & Gas
Military & Aerospace
BFSI
Medical
Imaging
Railway
Others
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Few Points From Table Of Content
1. Executive Summary
2. Fiber Optic Cable Market Characteristics
3. Fiber Optic Cable Market Size And Growth
4. Fiber Optic Cable Market Segmentation
5. Fiber Optic Cable Market Regional And Country Analysis
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.
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25. Fiber Optic Cable Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Fiber Optic Cable Market
27. Fiber Optic Cable Market Trends And Strategies
28. Fiber Optic Cable Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Fiber Optic Cable Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Fiber Optic Cable Market are Corning Inc., Sumitomo Electric Industries Ltd, Prysmian Group, Sterlite Technologies Ltd, Fujikura Ltd, TE Connectivity, 3M, Amphenol and Molex.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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